Carney sells Canada to global investors but says US ties still key

Prime Minister Mark Carney of Canada is actively courting global investors, aiming to attract CAN$1 trillion (US$720 billion) in investments over the next five years. At a gathering of international financial leaders in Toronto, Carney emphasized Canada's potential as an investment destination, promising tax incentives and reduced bureaucracy.

The summit featured representatives from Gulf investment agencies, European banks, Nigeria's wealthiest man, Aliko Dangote, and US investors. Carney highlighted Canada's reserves of critical minerals and clean energy as key sectors for achieving strategic autonomy. He also showcased plans for a new pipeline to the Pacific coast, which would transport at least one million barrels of low-emission Alberta oil per day to Asian markets.

Despite escalating trade tensions with the US following President Trump's imposition of tariffs, Carney maintained a positive outlook on future relations. He reaffirmed Canada's commitment to being the US's most important partner in various key areas, noting that despite disagreements, both nations have historically maintained close ties.

Carney stressed the importance of respecting each other's traditions and sovereignty in fostering strong partnerships. He also reiterated Canada's dedication to pursuing mutually beneficial trade deals with the US, despite previous skepticism about the Trump administration's reliability. Closer ties with the European Union are a crucial component of Canada's strategy to reduce its reliance on the US.

Carney, a former investment banker and central bank leader, will attend the State of the European Union address in Strasbourg, where discussions on a unique alliance with the bloc will likely take place.